Wednesday, June 27, 2012

End This Depression Now! by Paul Krugman

Paul Krugman is pretty darn amazing and level-headed, especially when it comes to economics. Well, I'll be darned, he even received one of those Nobel Prize thingies! How this story goes it that it is essentially a recap of how we got to where we are and how to get to where we need to be, aka people with jobs and a growing economy and away from austerity measures. He talks about all the different parts of the economy and how they interact...especially about gridlock in Congress (it is ridiculous that the GOP has pledged to not raise taxes to Grover Nordquist...I thought they were supposed to serve America, but what do I know), the issues that Europe is having and how that could cross the Atlantic, and kind of has with the GOP wanting to cut spending without raising taxes, or having to offset a debt ceiling increase with spending frustrating to me!...and also what the Fed could do to help things along. It really was a very interesting read and it sounds like a deceivingly easy solution to get America back to full employment (aka 5% unemployment), but I doubt it will happen, as Krugman does, too. He even says at this rate, it will take 5-7 years for us to get back to full employment, and he does call what we are in a depression, not just a recession or Great Recession. It is also really interesting to read the exerpts at the beginning of each chapter--some are taken from during the Great Depression and scarily echo current sentiments and others are from only a few years ago declaring that the recession was over and we were on the path to growth. I enjoyed Krugman so much, don't be surprised if you see more reviews of his books here.

No comments:

Post a Comment